Tianshan Investment Co., Ltd. forecasted that with the same investment, Gyun Aluminum (000807) had an EPS of RMB0.47 in 2006, an increase of 83.6% year-on-year; EPS of 2007 was RMB0.74, which was an increase of 55.3% year-on-year; EPS of the year was RMB1.05, a year-on-year increase of 41.9%. Give "overweight" rating, target price of 8.14 yuan.
The profit of the electrolytic aluminum industry will continue to improve. Shan Shan Tong pointed out that the demand for primary aluminum will increase steadily and prices will fall slightly; alumina production capacity will be released quickly and prices will fall rapidly; the decline in alumina prices will be greater than the decline in aluminum prices, and earnings from the electrolytic aluminum industry will continue to improve.
The integrated deep processing company is worth investing. In the aluminum industry chain, the bottleneck of the electrolytic aluminum and alumina industries has been opened, the industrial bottleneck is transferred to the bauxite, and the future industrial profits will be concentrated in the bauxite; in addition, from the product point of view, the profits of the aluminum industry will also be concentrated on deep processing products. . Therefore, it is worthwhile to invest in an integrated deep-processing company with bauxite resources and deep processing capacity. Gyun Aluminum controls Wenshan bauxite on the one hand and has bauxite resources. On the other hand, Gyun Aluminum plans to invest in high-precision aluminum production lines to expand the production capacity of deep processing products.
In addition, G Cloud Aluminum plans to cooperate with international large-scale aluminum companies to build a new large-scale electrolytic aluminum production line. Gyun Aluminum will grow into a listed aluminum company with a high level of integration, deep processing, and high degree of internationalization.
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